Welcome back to the Chart Decoder Series.
In Part 1, we introduced the Ichimoku Cloud, the comprehensive indicator that shows trend, momentum, and future support/resistance at a glance.
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Bitcoin’s attempt to break higher has stalled, with the price failing to hold above the $95,000–$98,000 resistance zone and slipping back into its established range. After peaking at $97,850 in mid-January, BTC retraced more than 10 percent, falling below the yearly open as spot buying momentum faded and ETF outflows intensified. The rejection of any upward gains has taken place near the short-term holder cost basis, highlighting a fragile equilibrium, where downside continues to be absorbed but upside progress is consistently met by distribution from prior-cycle buyers. Derivatives positioning has reset in an orderly manner, and the volatility response remains confined to the very short end of the curve, suggesting event-driven caution rather than a broader regime shift. In the absence of renewed spot and ETF demand, Bitcoin is likely to remain range-bound, with consolidation prevailing until a clearer demand catalyst emerges.
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